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Hong Kong curbs lending to developers as property risks soar

Bloomberg The Hong Kong Monetary Authority tightened limits on bank loans to property developers, as it seeks to contain risks in the city’s booming real-estate market. From June 1, the caps for construction finance will be cut to 40 percent of site value and 80 percent of construction cost, with the overall limit reduced to 50 percent of the expected ...

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India panel pushes commercial use of first GM food crop

Bloomberg An Indian environment ministry panel recommended to the government that it allow cultivation of a genetically-modified mustard variety, taking it closer to becoming the country’s first GM food crop for commercial production. The federal government will make a final decision in this regard, said Amita Prasad, an additional secretary with the environment ministry and chairman of the Genetic Engineering ...

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China’s bonds decline for seventh week

Bloomberg China’s 10-year government bonds fell for a seventh week, building on the longest run of declines since 2013, amid concerns the nation’s deleveraging campaign will drive borrowing costs up further. The yield on 10-year sovereign debt climbed eight basis points this week to close Friday at 3.65 percent, according to data compiled by Bloomberg. That’s the longest streak since ...

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